Category: Agriculture

Feb 19, 2013 (LBO) – Sri Lanka’s Agstar Fertilizers Plc said it had bought control of a rice processing and distribution company for 41.7 million rupees. The firm said in a stock exchange filing that it had bought 51 percent of Mahaweli Rice Processing Industries (Pvt) Ltd, based in Sandunpura, Dehiattakandiya. In the December 2012 […]

Feb 17, 2013 (LBO) – Lanka Milk Foods Plc a unit of Sri Lanka’s Distilleries group said it will spend 800 million rupees to expand liquid milk processing and packing capacity at a subsidiary.Lanka Milk Foods’ revenues rose 9.5 percent to 1.41 billion rupees in the December 2013 quarter, expenses rose at a slower 2.6 […]

Feb 08, 2013 (LBO) – Sri Lanka is tightening laws to control the refuse tea prevent malpractices, with draft rules being devised by the plantations industries ministry the state information office said. The proposed laws relating to refuse tea and several off grades had been referred to a cabinet sub-committee headed by minister Susil Premjayantha […]

Feb 07, 2013 (LBO) – Sri Lanka Planters Association representing large tea growing companies welcome a reduction in a sudden hike in a tea export tax, which was sprung on the industry with no warning or consultation. Sri Lanka’s authorities have a habit of imposing taxes through gazette on citizens without consultation violating fundamental principles […]

Feb 06, 2013 (LBO) – Profits at Sri Lanka’s Bogawantalawa Tea Estates Plc, surged to 146 million rupees from a loss of 28 million rupees a year earlier, helped by stronger tea prices, interim accounts show. The firm reported earnings of 1.75 rupees per share during the quarter.In the nine months to December it reported […]

Feb 05, 2013 (LBO) – Profits at Sri Lanka’s Horana Plantations Plc, which mainly grows tea rose almost trebled to 100 million rupees in the December 2012 quarter from a year earlier, on stronger tea prices.The firm reported earnings of 4.03 rupees per share for the quarter.In the nine months to December earnings were 6.14 […]

Feb 01, 2013 (LBO) – Protests over a sudden export tax slapped on tea intensified with a second industry association joining exporters saying the industry was being progressively decimated by authorities.The Ceylon Tea Traders Association, an apex industry association, said a tax on tea has been virtually doubled “like a bolt from the blue” adding […]

Jan 24, 2013 (LBO) – An International Tea Producers’ Forum formed in Colombo will work to secure their common interest, Sri Lanka’s plantation industries minister Mahinda Samarasinghe said. “With an intergovernmental membership of seven of the world™s largest tea producing countries, ITPF will serve as a powerful new channel to tackle the challenges facing the […]

Jan 23, 2013 (LBO) – Sri Lanka’s Elpitiya Plantations Plc has formed a joint venture with China’s Yunnan Dianhong Group to produce ‘Chinese Specialty Tea’ for export, the island’s investment promotion agency said. The joint venture firm Elpitiya Dianhong Jin Ya Tea Company (Private) Limited has been formed with Dianhong International Limited, Hongkong, the BOI […]

Jan 18, 2013 (LBO) – Sri Lanka’s state-run National Livestock Development Board is spending 28.537 million US dollars to import 4,500 dairy cows, of which 500 animals have already arrived in the country, information minister Keheliya Ramukwelle said.The cows will be distributed among three farms in Bopaththalawa, Nikaweratiya and Sirignapatha. Under the first stage 500 […]

Jan 16, 2013 (LBO) – Japan will grant a dredger to Sri Lanka’s state-run fishery harbhour agency to keep navigational channels clear for fishermen, the Japanese aid agency said.The Japan International Co-operation Agency (JICA) said a study team sent at Sri Lanka’s request and officials of Ceylon Fishery Harbhour Corporation had found that existing dredging […]

Jan 14, 2013 (LBO) – Sri Lanka is to set up another plant to can fish while existing tax protected factories are importing raw fish from China to prevent extinction of some species, a media report said.Sri Lanka’s The Sunday Times newspaper said a new factory was planned with possible Chinese investment in Galle in […]